According to the company, the new Oracle AIA Foundation Packs for the utilities and insurance industries deliver new industry-specific object and service components, industry best practice processes and other modified governance tools and components from the cross industry Oracle AIA Foundation Pack.
Oracle AIA Foundation Packs enable companies to unify their application portfolio through flexible composite business processes, and help standardize processes making all applications – whether from Oracle, third-party or custom-developed applications – work as one unified product on an open, standards-based platform, said Oracle.
The debut of Oracle AIA Insurance Foundation Pack is reported to enable insurance companies to accelerate application integration, especially between claims and financial systems in order to process claim payments, set up claim reserves and pursue outstanding debt. It also facilitates integration with policy administration and other systems, whether it’s Oracle or a third-party.
Utilities customers can easily leverage Oracle AIA Utilities Foundation Pack to facilitate integration design and enable composite business processes including concept to launch, order to bill, meter to cash and customer self service. These processes span a variety of applications, including CRM for sales, marketing and service; customer care and contact center; customer eBilling, ePayment and eSupport; meter data management; rating, billing and collections; and financials ERP, said Oracle.